Ripple XRP (XRP-USD) Price Chart Analysis

XRPUSD Elliott Wave Technical Analysis June 09 2023

4Hour

Ripple/U.S.dollar(XRPUSD)
XRPUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: wave (1) of Motive
Details:  Wave 5 is usually equal to .618 multiplied Length of wave 1 through wave 3
Wave Cancel invalid level: 0.41001

Ripple/U.S.dollar(XRPUSD)Trading Strategy: Ripple is still in an uptrend. But it was in a phase of correction in wave 4 before rising again in wave 5, in line with price being above the MA200 line, showing a strong uptrend. But even so, we need more information to identify wave 4 patterns to determine readiness for rising wave 5, wait for wave 4 to finish.

Ripple/U.S.dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum

Daily

Ripple/U.S.dollar(XRPUSD)
XRPUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: wave (1) of Motive
Details:  Wave 5 is usually equal to .618 multiplied Length of wave 1 through wave 3
Wave Cancel invalid level: 0.41001

Ripple/U.S.dollar(XRPUSD)Trading Strategy: Ripple is still in an uptrend. But it was in a phase of correction in wave 4 before rising again in wave 5, in line with price being above the MA200 line, showing a strong uptrend. But even so, we need more information to identify wave 4 patterns to determine readiness for rising wave 5, wait for wave 4 to finish.

Ripple/U.S.dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum